Business Immo, the real estate website
Listed

Icade is optimistic before the IPO of its healthcare unit

Before a well-deserved summer break, real estate companies publish their results for the first six months of 2021. The conclusion that can already be (...)

Listed

Covivio raises its guidance for 2021

With a better-than-expected first half, Covivio is raising its EPRA Earnings guidance for 2021 to between €390m and €400m (€4.1 to €4.2 per share), (...)

Territories

Mipim expects 5,000 visitors in September in Cannes

According to our sources, for its September 7 and 8 edition, French real estate fair Mipim will receive no less than 5,000 visitors. A (...)

Office

International investors back with a bang at Mipim September Edition

With two months to go before the opening of the Mipim September Edition, the teams at RX France (formerly Reed Midem) can be reassured. (...)

Territories

Paris La Défense: when Groupama Immobilier sets out to reclaim public space

Has the development of La Défense been taken over by the private sector? That's the question one might ask: yesterday, Groupama Immobilier unveiled, on (...)

Housing

Vinci Immobilier's insatiable appetite for managed residences

Vinci Immobilier is relentlessly pursuing its rush towards... managed residences. Whether they house senior citizens, students or young professionals, the real estate arm of (...)

Office

Office construction is slowing down in Paris, but remains dynamic - Grand Paris Crane Survey

The pace of office construction in Paris and its inner suburbs has slowed this winter, according to the 36th edition of the Grand Paris (...)

Finance

Diversification, the new ace up Amundi Immobilier's sleeve

How do we get through the next property cycle where uncertainty appears, under the prism of the health crisis, to be the best certainty? (...)

Office

Still a strong competition for value-creating transactions in the Paris office market

Against all expectations, the off-plan office sale segment in the Paris Region reached €3.9  bn in 2020 - a decline of "only" 4% compared to (...)

Office

Barings acquires Maison Margiela's head building in Paris' 11th arrondissement

Barings returns to the Paris office market. After recently selling 9 rue du Helder (Paris 9th) for around €26,000 per square metre, the teams of (...)

Career

Motel One appoints Paul Cotteret as Director Development France & Benelux

According to our information, Motel One has appointed Paul Cotteret — former Hilton employee — as Director Development France & Benelux. He will this (...)

Logistics

Deka invests over €100m on two logistics platforms in northern France

French logistics real estate is definitely whetting the appetite of foreign investors, especially Germans. Deka Immobilien, to feed one of its European vehicles dedicated (...)

Retail

Hammerson continues to dispose of assets in France

With or without the health crisis, Hammerson is continuing its programme of disposals of French shopping centres deemed non-strategic. On the announcement of its (...)

Hospitality

"Why France remains a priority market for hotel operators"

Business Immo: In the face of a health and economic crisis, how do you explain that the thirty or so hotel operators surveyed by (...)

Office

Schroder REIM continues to focus on France

Despite the health crisis and the current uncertainties for the global economy, Schroder Real Estate Investment Management has not lost its appetite for core (...)

Territories

Mipim 2021 to be be held 7 and 8 September

The health crisis has been testing the nerves of event professionals in physics for over a year. As Reed Midem confirmed to Business Immo, (...)

Office

The Parisian offices at 87/89 Kléber avenue are valued at €22,000 per sqm

A successful value creation strategy for Financière du Grand Palais (FGP) in the Paris CBD! Owner since July 2020 of the 87/89 avenue Kléber (...)

Territories

Health crisis, climate, social and economic challenges... Mipim is turning into a digital summit

A year ago, Reed Midem was forced to cancel its real estate industry event in Cannes, the Mipim, because of the Covid-19 surge and the (...)

Office

La Défense: The Link is attracting the attention of investors

La Défense's The Link - Total's future headquarters - has entered a new phase. In mid-February, Paris La Défense and Groupama Immobilier signed the (...)

Logistics

Altarea sets out to conquer urban logistics

"This exceptional year has demonstrated the validity of our business model and our multi-brand strategy.” This is how Alain Taravella, Altarea's Chairman and Founder, (...)

Listed

After a year of resilience, Gecina enters a year of transition

"The resilience of our model and the centrality of our portfolio have enabled us to cope with the shock of the health crisis. "This is how (...)

Listed

Diversification, Covivio's key asset to get through the crisis

Covivio's top management can keep its spirits up: despite a gruelling health and economic context, the real estate company has signed an assessment that (...)

Hospitality

In turmoil, Pierre et Vacances freezes the payment of its rents

Badly hit by the health and economic crisis and a series of restrictive measures, the Pierre et Vacances-Center Parcs Group has just suspended the (...)

Office

SFL to sell Paris 8th’s 9 avenue Percier to Deka Immobilien

As part of its asset rotation policy, Paris-based REIT/SIIC SFL is continuing to sell off "mature" assets in Paris. After selling 112 avenue Wagram, (...)

Listed

Debt, disposals, suspended dividend...: how URW will cope with the crisis

Exhausting: this is the most appropriate adjective to sum up the year 2020 at Unibail-Rodamco-Westfield (URW). In addition to the health crisis that is (...)

Retail

"Shopping centres closures: why the decree is a source of inequality for landlords and retailers"

Business Immo: The government announced the closure of non-food shopping centres larger than 20,000 sqm several days ago. Were there already provisions applying to (...)

Office

BNP Paribas continues disposal strategy with €170m selling of Paris 18th's 8 rue de Sofia

February 4, 2021 is proving to be a key date for BNP Paribas in its real estate disposal strategy. After selling 14,000 sqm of office (...)

Retail

No lockdown for France, but non-food >20,000 sqm shopping centres have to close

The French, as well as many economic actors were expecting a third lockdown to fight against Covid-19. Rather, President Emmanuel Macron opted for a reinforced (...)

Office

Savills Valuation continues its move upmarket

In the midst of a health crisis, real estate experts’ analyses prove invaluable in guiding investors immersed in fog and uncertainty.  “Unlike other real estate-related (...)

Finance

CRE investment: is a downturn coming in France?

2020 could have been the annus horribilis for the French commercial real estate investment market. It was quite different... In spite of a health (...)

Office

Paris CBD's 17 Hoche to be acquired by Deka for over 30 000 €/sqm

Assets valued at 30,000 €/sqm are becoming much more common in the Parisian office real estate market than ever before. Nearly two years after acquiring (...)

Retail

BMO REP set to land its first asset trophy on Paris' Champs-Élysées

Yellow jackets, strikes, then a worldwide pandemic reducing the flow of international tourists like a sore thumb: one could not have predicted worse scenarios (...)

Territories

City of Paris and SNCF agree on a "lighter" renovation scheme for Gare du Nord

The project to renovate the Gare du Nord station deserved much better than long gut conflicts between the City of Paris, the SNCF and (...)

Office

"The pressure that has emerged on office property rental values will not stop"

Business Immo: What are the direct repercussions of the second lockdown decreed on 29 October on office property? Guillaume Savard: The current lockdown has little (...)

Listed

URW: the stock market welcomes Bressler and Niel's takeover

Following the takeover of the Léon Bressler/Xavier Niel consortium at URW, would the listed REIT/SIIC sign its "remontada" on the Paris stock exchange? Reading (...)

Listed

URW: "We have to get out of this panic-mode to enter the era of rational decisions" (Bressler/Niel)

The Refocus consortium ­— owning 5% in Unibail-Rodamco-Westfield SE ("URW"), won a victory today. After weeks of media battle, shareholders rejected the €3.5bn capital (...)

Listed

URW: shareholders reject the €3.5bn capital increase

"Reset" or "Refocus" ? After a (very) media-heavy battle over the strategy to adopt for the recovery of Unibail-Rodamco-Westfield, waged between the management of the Paris-based REIT/SIIC (...)

Retail

French specialised retail is going through anxiety-provoking uncertainties

How can we be optimistic about the future when the health crisis is still hitting hard on whole sections of the French economy? Particularly (...)

Listed

"With Xavier Niel, we are offering an entrepreneurial vision to all URW's shareholders”

Business Immo: Why do you propose a counter-strategy for Unibail-Rodamco-Westfield (URW)? Léon Bressler: First of all, let me say that it is not a counter-strategy. (...)

Listed

Former URW CEO Guillaume Poitrinal supports the Bressler/Niel's "Refocus" plan

"Bravo to Léon Bressler and Xavier Niel (...). "In one tweet, Guillaume Poitrinal - former head of the real estate company listed on the (...)

Career

Reed Smith strengthens its Paris real estate practice with the arrival of Carole Steimle

According to BI sources, Reed Smith – a global law firm with over 80 lawyers in Paris - is strengthening its real estate practice (...)

Office

Welcome at Work! finances its growth with a first round of financing

While some players in the real estate industry are feeling the full impact of the health and economic crisis, for others it's quite the (...)

Office

"The French market remains an important pillar of Allianz's global portfolio"

Business Immo: Allianz Real Estate has just signed the acquisition of two of the three Citylights towers in Boulogne-Billancourt – one of the largest commercial real (...)

Office

Allianz buys Boulogne-Billancourt’s City 1 and City 3 towers for €500m

According to BI sources, Paris-based insurance group BNP Paribas Cardif has sold the City 1 and City 3 towers, part of the CityLights complex in (...)

Territories

New French mayors, Nicolas Sarkozy, Covid-19... Mipim is turning into a political and economic meeting place

In the absence of a Cannes edition this year —that was postponed and then cancelled due to the coronavirus epidemic— Mipim will relocate to (...)

Career

Marc Bertrand leaves La Française to join Amundi, Philippe Depoux to replace him

This autumn, France’s real estate job market is picking up again. As recently announced on Business Immo, Jean-Marc Coly (62) will soon be retiring (...)

Office

Trade fairs limits lifted in France: event industry professionals dedicated to real estate reassured

After cancellations and numerous postponements due to the health crisis, the trade shows and fairs will be allowed to reopen as of September 1, (...)

Office

Off-plan office acquisitions still popular in the Paris region… for the time being – Arthur Loyd

Arthur Loyd has published exclusively for Business Immo the results of its first edition of "Grand Pariscope", a cross-analysis of the off-plan transactions market (...)

Retail

Unofi buys Lilles's 24,700 sqm Printemps department store from LaSalle IM

According to BI sources, the Paris-based SCPI management company Unofi-Gestion d'Actifs, on behalf of the SCPI Notapierre, has just acquired a 24,700 sqm retail asset housing (...)

Logistics

Gazeley becomes GLP

Three years after passing under the Global Logistic Properties (GLP) flag for $2.8bn, the British-based Gazeley has adopted the GLP global brand on the European continent. "Since (...)

Retail

To house its second downtown Paris store, Ikea will pay €130m for 144 rue de Rivoli

Despite the current retail environment, IKEA clearly has no intention of revising its ambitions to set up operations in the heart of Paris. Not (...)

Finance

2019, an excellent year for France's portfolio market - Arthur Loyd

The year 2019 will go down in the annals of the real estate portfolio sales market! According to the latest Arthur Loyd data, €8.3bn (...)

Office

“Generali Real Estate won’t change its strategy significantly”

Business Immo: Four months after the coronavirus outbreak, what do you take away from this unprecedented crisis on European real estate? Aldo Mazzocco: In mid-2019, (...)

Retail

France's CFC to acquire multiple assets near Paris’ Place Vendôme

France’s Compagnie financière de Choiseul (CFC) continues its shopping in Paris CBD. According to BI sources, the group chaired by Éric Elkain is going (...)

Career

Amundi Immobilier: who to succeed Jean-Marc Coly?

According to BI sources, after more than five years at the head of Amundi Immobilier, Jean-Marc Coly, 62, is due to retire soon. His (...)

Office

Total signs off-plan lease on Paris La Défense’s 130,000 sqm The Link

Paris-based Groupama Immobilier and French multinational oil and gas company Total have announced the off-plan signing on 14 March of a lease to make (...)

Retail

Citynove and Keys REIM launch JV for the €100m transformation of Galeries Lafayette Lyon Bron

Keys REIM, the portfolio management company of the Keys Asset Management group, and Citynove, the real estate company of the Galeries Lafayette group, have announced the (...)

Office

Goldman Sachs to make 83 Marceau its future Paris headquarters

Despite the context of the health crisis, rental negotiations are continuing for prime office assets in the Paris CBD. According to BI sources, the real (...)

Office

In the Paris Golden Triangle, the 64-66 Pierre-Charron is valued at more than 25,000 €/sqm

Despite Covid-19 health crisis, the Paris Golden Triangle - a very off-market sector - continues to whet investors' appetites for freestone buildings in need (...)

Office

French insurance group ACM buys 16,000 sqm On Seine office building in Levallois-Perret

In spite of the containment linked to the Covid-19 epidemic, it is still possible to complete real estate investments. According to BI sources, the (...)

Finance

Despite the crisis, French investors do not intend to change their strategies - C&W

Unveiling exclusively for Business Immo the main findings of its survey, conducted* with 176 commercial real estate investors present in France at the time (...)

Office

Savills IM buys Paris 8th's 35 Bassano for €40m

Savills Investment Management has announced the acquisition, on behalf of a foreign investor and as part of a sale and leaseback, of 35 rue (...)

Office

Generali buys 3,350 sqm mixed-use 40 Notre-Dame-des-Victoires in Paris 2nd

According to BI sources, Generali Real Estate, on behalf of the GF Pierre fund, has acquired number 40 rue Notre-Dame-des-Victoires, a 3,350 sqm mixed-use (...)

Career

Covid-19: what impact(s) on France’s real estate job market?

“Our customers are generally cool-minded and aware of their responsibilities towards their ecosystem, their partners and their employees,” confides Nathanaël Trouiller and Emmanuel Cazier, (...)

Office

"Core assets should be favoured, even more so than yesterday"

Business Immo: How do you see the current context related to the coronavirus? Julien Pinault: The circumstances are, in more ways than one, exceptional. The (...)

Office

Saint-Denis' #Curve about to be sold to French Amundi Immobilier

According to BI sources, #Curve - a building of approximately 24,000 sqm of new office space located in the ZAC de la Montjoie in (...)

Logistics

"This crisis will highlight logistics as an essential part of the primary infrastructure of any country."

Business Immo: Facing the Covid-19 outbreak, what challenges do Gazeley and your logistics platform tenants face? Fabrice Cervoni: The slowdown in activity, or even the (...)

Logistics

GLP pays €1bn for Goodman’s CEE portfolio, doubles its exposure in Europe

Singaporean logistics giant GLP (Global Logistic Properties) has signed an agreement to acquire a portfolio of logistics properties in Central and Eastern Europe from (...)

Office

Why BlackRock believes so strongly in France

With the recent acquisition of the Voltaire Tower, US wealth management giant BlackRock shows more than ever that it has a passion for French real (...)

Career

Catella's Arnaud de Sordi expected to join US Eastdil Secured

According to BI sources, after more than 17 years in the ranks of Catella Property France, Arnaud de Sordi, 42, has left his position (...)

Office

Hines sells Perspective Défense office building near Paris to Partners/Arax JV

According BI sources is separating from Perspective Défense, a 25,000 sqm office building in Colombes, north of the La Défense business district. Entirely renovated (...)

Office

“Why Paris core assets are not overvalued”

Review of the commercial real estate investment market in 2019, outlook for 2020, evolution of prime yields... Olivier Ambrosiali, Deputy Managing Director in charge (...)

Career

Thibault Ancely to head Tristan Capital Partners in France

Originally, Thibault Ancely, 42, was to join WeWork's French teams last fall. But, according to BI sources, the former executive director of investments and (...)

Office

AFD to acquire its future 50,000 sqm Paris headquarters from Kaufman & Broad

It is one of the flagship projects of the ZAC Paris Rive Gauche, in the 13th arrondissement of Paris, which is about to be (...)

Office

French CDC buys future BNP PRE headquarters near Paris for €500m

France’s CDC Investissement Immobilier - on behalf of the state’s Caisse des Dépôts and insurance group Assurances du Crédit Mutuel (ACM) – has recently (...)

Office

[REPORTAGE] What is it that makes investors run to La Défense?

Often considered too cold, too mineral or even too mono-functional, La Défense is the object of all desires. Investors - led by South Koreans (...)

Office

Paris-La Défense office complex ‘In Défense’ said sold to Swiss Life AM

Swiss Life AM is once again showing appetite for Europe's leading business district, Paris La Défense, with the In Défense building now sold by (...)

Retail

BNP Paribas REIM said paying €130m in off-market buy of prime Paris retail

BNP Paribas REIM has won an off-market bid for a prime Parisian retail site that formerly hosted the flagship store for Italy's Benetton, paying (...)

Finance

French Keys Asset Management 2.0 rocket ready for takeoff

The duo Pierre Mattei and Cyril Garreau has already set course .. for 2024. Their Paris-based Keys Asset Management, founded in 2011, has hit (...)

Office

Asian appetite for Paris-La Défense continues as GIC nears €550m closing on Tower PB6

Asian investor appetite for large office towers in Paris-La Défense continues unabated, with BI sources saying Singapore's GIC is near to closing on Tower PB6 for (...)

Listed

"Altarea Cogedim has become the second largest French residential developer"

Rising turnover, a €19.4bn development pipeline and strong growth in housing sales brought French REIT Altarea Cogedim solid results in all business lines during (...)

Office

Korea's NH, France's L'Étoile buy into La Défense Eqho for €370m - BI sources

Korean investment group NH, represented by Paris private firm L'Étoile Properties, has taken a 49% stake in the La Défense Eqho Tower, paying €370m, according to BI sources. The (...)

Finance

Why is Eurazeo Patrimoine entering the capital of Emerige?

Business Immo: Why is Eurazeo Patrimoine entering the capital of Emerige? Renaud Haberkorn: We are entering the capital of Emerige due to three strong convictions. First of all, the (...)

Office

Historic Grand Marnier Paris HQ acquired for €70m - BI sources

The historic Paris headquarters of Grand Marnier liqueur makers, 91 boulevard Haussmann, is to be acquired for €70m by Colliers' investment management arm, BI (...)

Office

Paris's Lumière office complex said bought by Primonial, Korea's Samsung for €1.2bn

Likely to be France's deal of the year, Paris's largest office complex, Lumière, has been acquired by fund manager Primonial and Korea's Samsung SRA for (...)

Finance

Making Greater Paris the first region in Europe for foreign investment

Business Immo: You are the principal contact point for foreign investors potentially interested in Greater Paris. What are your main arguments to convince them? Frank Margain: (...)

Office

LaSalle IM signs €100m Paris office forward deal with Belgium's AG

LaSalle Investment Management has signed a forward deal worth almost €100m to acquire a 9,800 sqm office block in Paris from Belgium's AG Real (...)

Office

Korean investors comb Paris La Défense after Mirae snaps up URW's Majunga for €850m

South Korean investors are watching Paris La Défense closely after news Unibail-Rodamco-Westfield has sold the Majunga tower to Seoul-based Mirae Asset Daewoo for €850m. The deal raises (...)

Retail

Canada's Oxford said paying €90m for prestigious Paris fashion store

Canada's Oxford Properties, part of the Canadian OMERS pension plan, has acquired one of Paris' most prestigious fashion stores, 273 rue du Saint-Honoré, at (...)

Housing

Why we acquired the SNCF/Vesta housing portfolio

Swiss Life Asset Managers and Ampère Gestion, a unit of French state institution CdC, were revealed last month as winners of the largest French (...)

Retail

Paris Austerlitz station's facelift to add over 20,000 sqm of retail

Without a high-speed rail link and away from the main traffic flows, Austerlitz was long overlooked among Parisian rail termini. But this is about (...)

Retail

Paris' €600m Eurostar terminus facelift to put it on par with St. Pancras

Eurostar users take note! After a €600m facelift, the Gare du Nord terminal in central Paris will be the equal of London's St. Pancras, according (...)

Office

“We aim to invest significantly in France over the next five years"

BI : You recently bought Le Magnum in Levallois-Perret in Paris from Deka. What attracted you to this building and why did you acquire it? Keith (...)

Housing

"Our ambition is to set in motion an entire sector"

Business Immo: With the Elan law, you take account of the failure of French housing policy for over decades. However you seem to be (...)

Finance

"We have replayed the transaction of the In/Out building with blockchain ..."

Business Immo: Can you introduce Olarchy? Michael Sigda, Cyrille Berthet and Antoine Yeretzian: Olarchy is a platform created by us three in 2018 that will allow real estate (...)

Office

Singapore’s GIC confirms BI report of Paris PB6 tower buy, said at €550m

Singapore’s sovereign wealth fund GIC has confirmed its purchase of the 60,000 sqm Paris La Défense PB6 tower, which BI sources in September said (...)

Retail

Norges pays €613m cash to add Paris Champs-Elysées Nike flagship

Norges Bank, manager of Norway's giant Pension Fund Global, has signed a €613m cash deal to acquire a retail/office property on Paris's prestigious Champs-Elysées (...)